Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 April 2012
I am a prop.of a firm which have 12 employee whose salary is more than 15000rs monthly and they are illegible for tds . i want to deduct their tds .
please tell me all the detail procedure of deducting and deposit tax to government. pls briefly and stepwise.
please tell me all the detail procedure of deducting and deposit tax to government. pls briefly and stepwise.
14 April 2012
U r liable to deduct TDS only if u r subjected to tax audit u/s 44AB. Else, not required.
However, if u want to follow TDS procedures, u have to first obtain TAN no. Then for salaries, take a declaration from employees pertaining to their savings and rentals and house property incomes. Then compute tax and deduct the tax by dividing the total tax liability by 12. In case of salaries cost for all months except March, it has to deposited on or before 7th of next month. In case of March, TDS has to be deposited on or before 30th April.
However, if u want to follow TDS procedures, u have to first obtain TAN no. Then for salaries, take a declaration from employees pertaining to their savings and rentals and house property incomes. Then compute tax and deduct the tax by dividing the total tax liability by 12. In case of salaries cost for all months except March, it has to deposited on or before 7th of next month. In case of March, TDS has to be deposited on or before 30th April.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
